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TSX up 0.6%
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Utilities biggest gainers
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First Quantum gains after report of mine stake sale talks
(Updated at 10:06 a.m. ET/ 1506 GMT)
By Amruta Khandekar and Purvi Agarwal
Jan 5 (Reuters) – Canada’s main index climbed on Friday and was on track to end the week higher aided by utility stocks, while investors assessed the domestic and U.S. data showing signs of strength in the labor market.
At 10:06 a.m. ET (1506 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 129.17 points, or 0.62%, at 21,000.52.
Canadian shares have stabilised after starting 2024 on a tepid note due to uncertainty around rate cuts from the U.S. Federal Reserve and geopolitical tensions. The TSX is now eyeing weekly gains of 0.2%.
Data from the U.S. and Canada hinted at resilience in the labor market, leading investors to scale back expectations of rate cuts.
U.S. employers hired more workers than expected in December while raising wages at a solid clip….
